Knowledge Shop Blog

March 2018 Top Tax & Accounting Q&As

Knowledge Shop Editor | 27/03/18 13:59

This months top tax & accounting Q&As live from the Knowledge Shop Help Desk: Are management fees for a salary sacrificing arrangement deductible? Changing the term of a Division 7A loan agreement Applying the rollover rules when restructuring from a sole trader to a company Consolidating franking accounts when companies consolidate Restrictions on applying the main residence exemption to the sale of a property
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Accountants Q&As

Foreign Residents Excluded from Main Residence Exemption - legislation before Parliament

Michael Carruthers | 08/02/18 15:32

New legislation introduced into Parliament today will prevent foreign residents accessing the capital gains tax (CGT) exemption on a main residence. If the legislation is enacted, a taxpayer will not generally be able to claim any exemption under the main residence rules if they are a non-resident at the time of the CGT event, even if they were a resident for some (or even most) of the ownership period. No apportionment applies – the exemption simply doesn’t apply at all if the individual is a foreign resident when the CGT event is triggered.
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Feb 2018 Tax Round Up - Profits inside professional services firms

Knowledge Shop Editor | 01/02/18 13:37

Profits of professional services firms guidelines suspended, recalcitrant employers targeted in SG integrity measures, and a shake-up for the effectiveness of trust distribution resolutions - all this and more in the tax round up. Members can download the full February 2018 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call Julie on 1800 800 232 or take a tour online.  
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Tax Round Up

Knowledge Shop acquires Taxbytes

Knowledge Shop Editor | 23/01/18 17:00

Knowledge Shop has acquired a majority interest in in-house training company Taxbytes. Taxbytes is a leading provider of in-house training to the accounting profession. The current managing director of the Taxbytes business, Jo-anne Hotston will continue to lead the business, providing the high level of training service that Taxbytes has built its reputation on. Jo-anne has an exceptional reputation within the profession and we’re excited to have her and Taxbytes as part of the Knowledge Shop family.
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Top Tax & Accounting Q&As - travel allowances, director loans, and calculating CGT for a partial main residence

Knowledge Shop Editor | 20/12/17 13:41

This month's top tax & accounting Q&As live from the Knowledge Shop Help Desk: Does a truck driver need to keep receipts if the travel allowance is under the ATO’s rate? Treatment of director loans from a company with no distributable surplus Can you choose the method to calculate a partial exemption under the main residence rules? Prior year turnover levels and small business entities Can I offset PSI against trust losses?
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Tax & Accounting, Q&As

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